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Trade Regulations, Customs and Standards

Ø IMPORT TARIFFS

Singapore is generally a free port and an open economy. More than 99% of all imports into Singapore enter the country duty-free. For social and/or environmental reasons, Singapore levies high excise taxes on beer, wine and liquor, tobacco products, motor vehicles and petroleum products.

Singapore levies a 7% Goods and Services Tax (GST). For dutiable goods, the taxable value for GST is calculated based on the CIF (Cost, Insurance and Freight) value plus all duties and other charges. In the case of non-dutiable foods, GST will be based on the CIF value plus any commission and other incidental charges whether or not shown on the invoice. If the goods are dutiable, the GST will be collected simultaneously with the duties. Special provisions pertain to goods stored in licensed warehouses and free trade zones. See http://www.iras.gov.sg and http://www.customs.gov.sg

Inland Revenue Authority of Singapore
Comptroller of Goods & Service Tax
55 Newton Road
Revenue House
Singapore 307987
Tel: (65) 65/1800-356 8633 (General Helpline)
Fax: (65) 6351-3553
Email: gst@iras.gov.sg
Website: http://www.iras.gov.sg

Singapore Customs
55 Newton Road
#10-01 Revenue House
Singapore 307987
Tel: (65) 6355-2000 / 6355 2028
Fax: (65) 6250-8663
Email: customs_documentation@customs.gov.sg
Website: http://www.customs.gov.sg
Contact: Mdm. Fauziah Sani, Deputy Head, (Company Compliance Branch)
Email: Fauziah_Sani@customs.gov.sg

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Ø TRADE BARRIERS

Singapore maintains one of the most liberal trading regimes in the world, but U.S. companies face several trade barriers. Singapore maintains a tiered motorcycle operator licensing system based on engine displacement which, along with a road tax based on engine size, adversely affects U.S. exports of large motorcycles. Singapore also restricts the import and sale of non-medicinal chewing gum. For social and/or environmental reasons, it levies high excise taxes on distilled spirits and wine, tobacco products, and motor vehicles.

Services barriers include sectors such as pay TV, audiovisual and media services, legal services, banking, and cloud computing services for financial institutions. Details can be found in the USTR Report on Foreign Trade Barriers that is available on-line at http://www.ustr.gov/sites/default/files/2013%20NTE%20Singapore%20Final.pdf and http://www.ustr.gov/

Singapore’s Agri-Food and Veterinary Authority (AVA) tests every imported shipment of meat and poultry and does not accept raw and uncooked poultry and meat products that contain salmonella bacteria that exceed AVA’s unrealistic microbiological standards. This is not scientifically justifiable and has posed some difficulties for U.S. exporters.

After the discovery of BSE in the United States in December 2003, Singapore banned imports of all U.S. beef products, offals and variety meats. In January 2006, Singapore re-opened its markets to only U.S. boneless beef from animals under 30 months of age. Current World Organization for Animal Health (OIE) guidelines for BSE allow for the full range of beef and beef products from animals of any age and from countries categorized as controlled risk status for BSE. The United States was officially categorized by the OIE as negligible risk for BSE in May 2013. The United States continues to press Singapore to make science-based decisions based on OIE guidelines, which allow for the full-range of beef and beef products from animals of any age.

Ø IMPORT REQUIREMENTS AND DOCUMENTATION

Companies must make an inward declaration for all goods imported into Singapore. All imports require an import permit although this is largely a statistical requirement for most goods. Details can be found at http://www.customs.gov.sg/leftNav/trad/Permits+and+Documentation.htm

Bona Fide Trade Samples

Import of trade samples for which the total value is below US$320 (S$400) is not subject to payment of duty and/or GST. In addition, no permit is required for their import. Bona fide trade samples (excluding liquors and tobacco) may be imported if they are imported solely for the purpose of soliciting orders for goods to be supplied from abroad, for demonstration in Singapore to enable manufacturers in Singapore to produce such articles to fulfill orders from abroad or by a manufacturer for the purpose of copying, testing or experimenting before they produce such articles in Singapore. More information can be found at

http://www.customs.gov.sg/leftNav/trad/imp/Importation+of+Trade+Samples.htm

Medical and Medicinal Products Import Regulations

All medical and medicinal products, prescription and over-the-counter pharmaceuticals imported or sold in Singapore are required to be licensed by the Health Sciences Authority. The onus of applying for a product license rests with the license holder, i.e., a locally registered company that is responsible for the safety, quality and efficacy of the product. If U.S. companies have concerns regarding product licensing, they should contact the Health Sciences Authority (http://www.hsa.gov.sg) or ask a potential distributor to submit samples to the Health Sciences Authority.

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Ø U.S. EXPORTS CONTROLS

Companies wanting to export controlled items to Singapore must apply for licenses from the appropriate government agencies in the United States. U.S. goods being re-exported from intermediary consignees in Singapore to ultimate consignees in third countries require specific licensing. Singapore is a major transshipment hub for the Asian market. While many items may not initially require an export license, exporters need to be aware that two-thirds of items exported to Singapore are re-exported to third countries that may have more stringent licensing requirements that require additional export licenses.

The Bureau of Industry and Security (BIS) is responsible for implementing and enforcing the Export Administration Regulations (EAR), which regulate the export and re-export of certain commercial items while other U.S government agencies regulate more specialized exports. For example, the U.S. Department of State has authority over defense articles and defense services. A list of agencies involved in export controls can be found at www.bis.doc.gov or in Supplement No. 3 Part 730 of the EAR which is available on the Government Printing Office Website, www.gpo.gov. If you have any questions or would like information on export controls, please contact our Regional Export Control officer at http://export.gov/singapore/contactus/index.asp

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Ø TEMPORARY ENTRY

Goods may be temporarily imported under the Temporary Import Scheme for the purpose of repairs, displays, exhibitions or other similar events without the payment of duty and/or GST. A banker’s guarantee is required under the Temporary Import Scheme. The temporary imports are covered by a Customs Inward Permit or a Carnet. Goods temporarily imported must be re-exported within the prescribed period using a Customs Outward permit. GST has to be paid if the goods are not subsequently re-exported. The procedures governing such importation can be found at

http://www.customs.gov.sg/leftNav/trad/Temporary+Import+Scheme.html

Admission Temporaire/Temporary Admission (ATA) Carnet

A foreign exhibitor may import exhibition goods into Singapore using an ATA carnet. When the exhibitor arrives in Singapore the carnet must be produced together with the goods to Customs at the entry point for verification and endorsement. When goods covered by a carnet are taken out of Singapore, the foreign exhibitor must produce the carnet together with the goods to Customs at the exit point for verification and endorsement. GST will be recovered from the carnet holder on any item that is unaccounted for. For more information on Temporary Importation for Exhibition, Auction & Fairs or Temporary Import Scheme, please contact the following or visit http://www.customs.gov.sg/leftNav/trad/imp/Temporary+Importation+for+Exhibitions+Auctions+and+Fairs.htm

Singapore Customs
55 Newton Road
#10-01 Revenue House
Singapore 307987
Tel: (65) 6355-2000
Fax: (65) 6250-8663
Email: customs_documentation@customs.gov.sg
Website: http://www.customs.gov.sg

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Ø LABELING AND MARKING REQUIREMENTS

Labels are required on imported food, drugs, liquors, paints and solvents and must specify the country of origin.

A food label should contain core information such as the prescribed food name, list of ingredients, mandatory warning, advisory statements or allergens declarations, net weight or volume, date mark, nutritional information panel, instructions for use or storage, country of origin, the name and address of the business and manufacturer and importer. Repackaged foods must be labeled to show (in English) the appropriate designation of food content printed in capital letters at least 1/16 inch high; whether foods are compounded, mixed or blended; the minimum quantity stated in metric net weight or measure; the name and address of the manufacturer or seller; and the country of origin. Illustrations must accurately describe the true nature or origin of the food. Foods having defined standards must be labeled to conform to those standards and be free from added foreign substances. Packages of food described as “enriched”, “fortified”, “vitaminized” or in any other way that implies that the article contains added vitamins or minerals must show the quantity of vitamins or minerals added per metric unit.

There are two levels of labeling requirements for medicinal products. Administrative labeling requirements are not statutory requirements and are specified in the Health Sciences Authority’s Guidance on Medicinal Product Registration in Singapore. Compliance is checked during the product registration process, prior to granting of marketing approval. For legal labeling requirements, these are stipulated in the legislation related to medicinal products regulation in Singapore and are subject to the Health Sciences Authority’s surveillance program. The labeling requirements include the name of the active ingredient, quantitative particulars, product license number and name and address of the dealer. More information may be obtained at http://www.hsa.gov.sg/publish/content/hsaportal/en/health_products_regulation.html

Labeling and advertising legislation also applies to the sale of vitamins and dietary supplements. Generally, labeling laws required that: 1) the composition of the products is disclosed in English, 2) labels/packaging materials not contain any references to diseases/conditions as specified in the schedule to the Medicines (Advertisement & Sale) Act (http://statutes.agc.gov.sg/aol/home.w3p); and 3) the advertising/sale promotion of the product in the public media be approved by the Health Sciences Authority.

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Ø PROHIBITED AND RESTRICTED IMPORTS

Special import licenses are required for certain goods, including strategic items, hazardous chemicals, films and videos, arms and ammunition, agricultural biotechnology products, food derived from agricultural biotechnology products, prescription drugs, over-the-counter drugs, vitamins with very high dosages of certain nutrients, and cosmetics and skin care products. The import of such items such as lighters in the shape of pistols or revolvers, firecrackers, handcuffs, shell casings, and silencers is prohibited.

Generally, the import of goods that the government determines as posing a threat to health, security, safety and social decency is controlled. A full list of prohibited products and controlled goods and their corresponding controlling agencies can be obtained from the Singapore Customs website, http://www.customs.gov.sg/leftnav/trad/tradenet/list+of+controlled+goods+-+imports.html

http://www.customs.gov.sg/leftnav/trav/controlled+and+prohibited+goods.html

Companies must make an outward declaration to export or re-export goods out of Singapore. Selected items are subjected to controls on exports of goods from Singapore. Items such as rubber, timber, granite, satellite dishes and receivers, and chlorofluorocarbons are subjected to export control and licensing. Items under export control must be endorsed or licensed by the appropriate government agencies before they can be exported. More information may be obtained at http://www.customs.gov.sg/leftNav/trad/imp/Goods+Subject+to+Control.html

The Strategic Trade Scheme (STS) is an enhanced permit regime that seeks to promote permit regime that seeks to promote effective internal export control compliance and provide legitimate traders with greater facilitation in permit declarations involving transactions of strategic goods for non-WMD related end-use. The STS comprises 3 tiers whereby the level of facilitation and flexibility accorded to a company will be contingent upon their quality of internal export control compliance program. More information may be obtained at http://www.customs.gov.sg/stgc/leftNav/per/Strategic+Trade+Scheme+(STS).html.

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Ø CUSTOMS REGULATIONS AND CONTACT INFORMATION

Customs Regulations

In Singapore valuation for customs purposes is based on the Customs Valuation Code (CVC). The primary basis for Customs value is the transaction value of the imported goods when sold for export to Singapore. Where goods are dutiable ad valorem or specific rates may be applied. An ad valorem rate, which is most commonly applied, is a percentage of the Customs value of the imported goods. A specific rate is a specified amount per unit of weight of other quantity.

Cost, insurance, freight, handling charges and all other charges incidental to the sale and delivery of the goods are taken into account when the duty is assessed. Exporters are required to ensure that the declared values of goods have not been undervalued or the Customs and Excise Department will increase the values declared. Severe penalties may be imposed on traders attempting to evade duty.

Free Trade Zone/Warehouses

Singapore has three Free Trade Zones (FTZ) authorities namely PSA Corporation Ltd, Jurong Port Pte Ltd and the Changi Airport Group (Singapore) Pte Ltd. The eight FTZs are Brani Terminal, Keppel Distripark, Pasir Panjang Terminal, Sembawang Wharves, Tanjong Pagar Terminal, Keppel Terminal, Jurong Port, Airport Logistics Park of Singapore and the Changi Airport Cargo Terminal Complex. They provide a wide range of facilities and services for storage and re-export of dutiable and controlled goods. Goods can be stored within the zones without any customs documentation until they are released in the market and they can also be processed and re-exported with minimum customs formalities. More information can be found at

http://www.customs.gov.sg/leftNav/trad/per/Documentation+in+a+Free+Trade+Zone.html

GST is suspended for imported goods deposited in a FTZ and will only be payable upon removal from the FTZ for local consumption. GST is not payable on supply made in FTZ if the goods supplied are meant for transshipment or re-export.

The FTZs at the port facilitate entrepot trade and promote the handling of transshipment cargo. They offer free 72-hour storage for import/export of conventional and containerized cargo and 140-day free storage for transshipment/re-export cargo.

There are many warehouse space options available in Singapore. Some of the more popular ones are located close to the port and within easy reach of the airport and the Jurong industrial hub. These include the Tanjong Pagar, Alexandra and Pasir Panjang Distriparks which are home to many established multinationals. The distriparks, in varying designs and size, cater to Central Distribution Center operators, manufacturers, traders, freight forwarders and others. http://www.customs.gov.sg/leftNav/trad/dir/Licensed+Premises+for+Zero+GST+Goods.html

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Ø STANDARDS

Overview

As the national standards and accreditation body, SPRING Singapore works in partnership with enterprises to develop a robust and internationally-recognized quality and standards infrastructure in Singapore. This quality and standards infrastructure enables enterprises to become more efficient, productive, global and competitive, as well as support national initiatives in health, safety, and protection of the environment. SPRING also encourages local industries and enterprises to adopt standards and conformance schemes to build trusted products and services.

To facilitate trade with Singapore’s trading partners, SPRING has signed bilateral and multilateral Memorandum of Understanding (MOU) and Mutual Recognition Arrangements (MRA) with a number of agencies or governments around the world.

SPRING currently participates in a number of international or regional fora such as the Pacific Area Standards Congress (PASC), Asia Pacific Economic Cooperation (APEC) Sub-Committee on Standards & Conformance (SCSC), ASEAN Consultative Committee for Standards & Quality (ACCSQ), and Pacific Accreditation Cooperation (PAC).

SPRING also administers the SPRING’s Business Excellence (BE) Initiative which helps organizations strengthen their management systems and processes for high performance. By adopting the internationally-benchmarked BE framework, organizations achieve key certification milestones and can also vie for the prestigious BE awards. The BE framework is aligned with excellence frameworks adopted for the US Malcolm Baldrige National Quality Award, EFQM (European Foundation for Quality Management) Excellence Award, Japan Quality Award and the Australian Business Excellence Awards. More information on the Business Excellence Initiative can be found at http://www.spring.gov.sg/qualitystandards/be/pages/business-excellence-initiative.aspx

Standards Organizations

The Singapore Standardisation Program is set up by SPRING to develop and promote Singapore Standards and International Standards which are important to Singapore. It establishes and publishes Singapore Standards by publication in the Government Gazette. SPRING is a member body of the International Organization for Standardization (ISO) and also a member body of the International Electrotechnical Commission (IEC) through the Singapore National Committee of the IEC.

SPRING facilitates the participation of industry in standards development work through the industry-led Singapore Standards Council. To strengthen its linkages with industry, the Council comprises standards partners or experts from the private and public sectors. The Standards Council approves the publication and withdrawal of Singapore Standards and Technical References and also oversees Singapore’s participation in the development or monitoring of ISO and IEC international standards that are relevant to Singapore. It currently has 12 Standards Committees (SCs) to lead the development and promotion of standards in various industries or technical fields such as biomedical, building & construction, chemical, electrical & electronic, food and management systems. Under the various Standards Committees (SCs), Technical Committees (TCs) and Working Groups (WGs) are established to undertake the preparation and promotion of standards. Where possible, SPRING promotes the use of international standards. Singapore Standards are developed when there is no suitable international standards.

NIST Notify U.S. Service

Member countries of the World Trade Organization (WTO) are required under the Agreement on Technical Barriers to Trade (TBT Agreement) to report to the WTO all proposed technical regulations that could affect trade with other Member countries. Notify U.S. is a free, web-based e-mail subscription service that offers an opportunity to review and comment on proposed foreign technical regulations that can affect your access to international markets. Register online at Internet URL: http://www.nist.gov/notifyus/

Conformity Assessment

A list of conformity assessment bodies accredited by the Singapore Accreditation Council (SAC) may be found here:

http://www.sac-accreditation.gov.sg/cab/acab/Pages/search_acab.aspx

Product Certification

A list of the designated product certification bodies for the Consumer Protection (Safety Requirements) Registration Scheme (CPS Scheme) administered by SPRING can be found here: http://www.spring.gov.sg/QualityStandards/CPS/Documents/CPS_InfoBooklet.pdf

Accreditation

Besides being the national standards body in Singapore, SPRING also manages the Singapore Accreditation Council (SAC), the national accreditation body.

The SAC's primary function is to accredit Conformity Assessment Bodies (CAB) based on international standards. After being assessed on their competence, impartiality and performance capability to offer specified conformity assessment services, CABs gain the right of use of the SAC accreditation marks in their issuance of endorsed test/calibration/inspection reports or accredited certificates.

The Singapore Accreditation Council currently operates accreditation programs in the following areas:

  • Calibration laboratories covering the temperature, dimensional, electrical and mechanical; and testing laboratories covering chemical, biological, environmental, medical, medical imaging, electrical, non-destructive testing, gaming and testing related to civil and mechanical engineering
  • Inspection bodies for areas such as industrial pressure vessels and lifting equipment, motor vehicle, structural steelwork, cargo, technical audit for extension of pressure vessel, site investigation and hook lift & container.
  • Quality management system (ISO 9001) certification bodies
  • Environmental management system (ISO 14001) certification bodies.
  • Product certification bodies
  • Personnel certification bodies
  • Occupational safety and health management system (OSHMS) certification bodies
  • Hazard Analysis and Critical Control Points (HACCP) food safety management system certification bodies
  • Food safety (ISO 22000) certification bodies
  • Good Distribution Practice for Medical Device (GDPMDS) certification bodies
  • Business continuity management certification bodies
  • Energy management system (EnMS) certification bodies
  • Proficiency Testing Providers

In October 2010, the SAC was formally recognised by the U.S. Environmental Protection Agency (EPA) for the ENERGY STAR Program. More information is available on the website: http://www.sac-accreditation.gov.sg.

The Singapore Accreditation Council has signed a number of accreditation related multilateral mutual recognition arrangements (MRAs/MLAs). These include:

  • Asia Pacific Laboratory Accreditation Cooperation (APLAC) MRA for testing, calibration, medical (ISO 15189) and inspection
  • Pacific Accreditation Cooperation (PAC) MLA for quality management system certification and product certification
  • International Accreditation Forum (IAF) MLA for quality management system certification and product certification
  • International Laboratory Accreditation Cooperation (ILAC) MRA for testing and calibration and inspection.

In addition, SPRING has appointed SAC as the Good Laboratory Practice (GLP) Compliance Monitoring Authority in Singapore. In January 2010, Singapore became a Mutual Acceptance of Data (MAD) adherent member of the Organization for Economic Cooperation and Development (OECD). This means that GLP studies conducted in Singapore for the health and safety assessment of chemicals will be accepted in more than 30 OECD and non-OECD member countries.

Singapore became the first country in Asia, and the third in the world (after the European Union and Canada), to operate a Mutual Recognition Arrangement (MRA) on telecom equipment certification with the U.S. The MRA provides for direct entry of telecommunications into either market without the need for additional testing and certification. Under the Asian Pacific Economic Cooperation (APEC) Telecommunications MRA implemented between the U.S. and Singapore, products can be tested and certified in the United States for conformance with Singapore's technical requirements. A list of the recognized U.S. testing and certification agencies can be found at: http://www.ida.gov.sg/Policies-and-Regulations/International-Relations-For-Telecom/Testing-Laboratories-and-Certification-Bodies-Recognised-by-IDA.

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Publication of Technical Regulations

Singapore Standards (SS) are nationally recognized documents that undergo the full consensus process, including a two-month public review before publication. They are functional or technical requirements in the form of specifications for materials, product system or process, codes of practice, methods of test, terminologies, and guides etc. It is voluntary in nature, except when referred to by the regulatory bodies in legislations. International standards can be adopted wholly or partially as Singapore Standards.

On the other hand, Technical Reference (TR) is transitional document developed to provide guidance for products and services where the users need to develop the TR quickly. It is a pre-standard for trial over a period of two years to assess on their suitability for the local industry. TRs can, therefore, become Singapore Standards after two years, continue as Technical References for further comments, or be withdrawn.

Both SSs and TRs are available for purchase in the Singapore Standards eShop. SPRING has appointed Toppan Leefung Pte Ltd to manage the sale of the Singapore Standards and Technical References, as well as international and overseas standards that SPRING is permitted to sell in Singapore. Toppan Leefung’s contact details are:

Toppan Leefung Pte. Ltd.
1 Kim Seng Promenade #18-01
Great World City East Tower
Singapore 237994
Operating Hours:
Mon to Fri: 9.30am to 6.00pm
Closed on Saturdays, Sundays and Public Holidays
Customer Service Hotline: + (65) 6826 9691
Fax: + (65) 6820 3341
Email: singaporestandardseshop@toppanleefung.com
Singapore Standards eShop: http://www.singaporestandardseshop.sg

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Labeling and Marking

Regulation of consumer products

As the national safety authority and legal metrology authority for Singapore, SPRING administers two trust-marks, namely the SAFETY Mark and the Accuracy Label.

The “SAFETY Mark” is intended for selected electrical and electronics products as well as gas appliances which are sold to consumers in Singapore. The “SAFETY Mark” helps consumers and traders to identify registered controlled goods. All registered controlled goods must be tested to specific international and national safety standards and certified by designated product certification bodies. The products are individually marked with the “SAFETY Mark” either on the product or the packaging. The “SAFETY Mark” comprises a "safety logo" enclosed in a square on the left and the words "SAFETY MARK" within a rectangle on the right, and a set of 8-digit registration number that is unique and traceable to the registrant and the registered models. More information on the registration for the Safety Mark can be obtained from the website: http://www.spring.gov.sg/productsafety.

The “Accuracy Label” covers weighing and measuring instruments for trade use. In Singapore, all weighing and measuring instruments for trade use (like price computing scales in supermarkets, baggage weighing machines at airports and seaports as well as fuel dispensers at petrol stations) are regulated under the Singapore Weights and Measures Programme. Before an Accuracy Label could be affixed on these instruments, it would first need to be pattern registered with SPRING. Thereafter, every individual weighing or measuring instrument would need to be verified fit for trade use and affixed with a tamper-proof seal and the Accuracy Label by SPRING-appointed Authorised Verifiers (AVs).

Competent private sector bodies such as manufacturers, installers, suppliers and repairers of weighing and measuring instruments may apply to be designated by SPRING to handle the verification of weighing and measuring instruments for trade use. More information on the Accuracy Label can be obtained from the website: http://www.spring.gov.sg/wmo.

Telecommunication equipment imported for use in Singapore is subject to “Type Approval” by the Infocomm Development Authority of Singapore. More information can be obtained from the website: http://www.ida.gov.sg.

For the construction industry, the Building and Construction Authority uses the Construction Quality Assessment System (CONQUAS) to objectively rate building works. Details are available at the website: http://www.bca.gov.sg

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Contacts

SPRING Singapore
1 Fusionopolis Walk
#01-02 South Tower, Solaris
Singapore 138628
Tel: (65) 6278 6666
Fax: (65) 6659 0640
Website: http://www.spring.gov.sg

Ms. CHANG Kwei Fern, Director, Accreditation Division
Email: sac@spring.gov.sg

Mr. CHEONG Tak Leong, Director, Standards Division
Email: standards@spring.gov.sg

Ms. LIM LeeFang, Deputy Director, Consumer Product Safety, Weights and Measures Office
Email: safety@spring.gov.sg

Ms TONG Shuh Lan, Director, Business Service Excellence Division
Email: be@spring.gov.sg

Standards contact at Commercial Service, Singapore:
Ms. CHIA Swee Hoon, Senior Commercial Specialist
Email: Sweehoon.chia@trade.gov

Trade Agreements

As a nation with a small domestic market that depends on imports for food, energy and industrial raw materials, Singapore places the highest priority on the multilateral trading system embodied by the World Trade Organization (WTO). As a member of the WTO, Singapore believes that the WTO can provide a stable framework for developing sound multilateral rules that ensure that goods and services can flow freely with minimum impediment. The primary objective of Singapore’s trade policy is to guard its trading interest by ensuring a free and open international trading environment.

In tandem with its support of the WTO, Singapore advocates that trade efforts are undertaken in the regional context such as APEC (Asia Pacific Economic Cooperation), ASEM (Asia-Europe Meeting) and ASEAN (Association of Southeast Asian Nations) as well as bilateral Free Trade Agreements (FTAs) to accelerate the momentum of trade liberalization and strengthen the multilateral trading system. It has actively pursued a number of legally binding arrangements with trading partners. ASEAN is preparing a roadmap for an ASEAN Economic Community by 2020 that aims to create a single enlarged market of 550 million people.

Singapore has concluded FTAs with the United States, ASEAN, Australia, New Zealand, Hashemite Kingdom of Jordan, China, India, Japan, South Korea, Costa Rica, Switzerland, Liechtenstein, Norway & Iceland, Gulf Cooperation Council, Panama, Peru and with Brunei, Chile and New Zealand under the Trans-Pacific SEP (Strategic Economic Partnership) Agreement. FTA negotiations are ongoing with Canada, Mexico, Pakistan and the Ukraine.

The Trans-Pacific Partnership (TPP) is an evolution of the Trans-Pacific Strategic Economic Partnership (TPSEP) between Singapore, Brunei, Chile and New Zealand. This was the result of the United States’ interest in negotiating an FTA with the TPSEP member countries and subsequently joined by other countries like Australia, Peru, Vietnam and Malaysia. Formal negotiations commenced in March 2010 and are ongoing.

For more information, please visit http://www.iesingapore.gov.sg or http://www.fta.gov.sg

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